SES : Tremendous 2028 guidance faced with an unappealing reality in 2024-2025
>Downward adjustment to forecasts: deterioration in trends - Q2 2024 showed a deterioration in trends in most businesses, with the exception of services to governments (revenues +10%). We have shaded down our forecasts: The introduction of accounting charges and the activation of new satellites drive up depreciation and amortisation by ~€ 100m.Video: SES now suggests a risk of a decline of up to 10% of revenues in 2025 (vs consensus -5%) due to the bankrupt...SES is engaged as a provider of satellite-delivered services. As a strategic management company, Co. operates through a unique network of leading satellite operators around the world. This network comprises the fully-owned SES ASTRA in Europe and SES AMERICOM in the U.S., as well as participations in regional satellite operators. SES ASTRA is European direct-to-home satellite operator. SES AMERICOM operates a fleet of 17 satellites serving the Americas, Europe and the Asia-Pacific region. AsiaSat provides transponder capacity for broadcast, broadband and telecommunications services in the Asia-Pacific region.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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